UAE has established itself as a country which is ripe with business opportunities. Whenever there is the talk of setting up a business, automatically our mind goes to UAE, especially Dubai or Abu Dhabi. The increasing footfalls of tourists, the emergence of trade free zones and mainland companies and its strategic location of the country is a significant factor in attracting people in business and entrepreneurs from all over the world. One of the latest inclusion in the free zones in Dubai is the Dubai South Free Zone (DSFZ).
Let’s understand what DFSZ is and what are the reasons to start a business in DSFZ.
Dubai South Free Zone (DSFZ)
Dubai South Free Zone (DSFZ) is an exclusive and colossal project taken up by the government which will be developed in several stages. Initially, this free zone will be utilized in hosting the expo 2020, which will be held in Dubai. After the exhibition, the relevant changes will be made in the infrastructure in the region so that the free zone is better able to serve the companies that are set up in the area.
The free zone will span an area of 145 sq. km and the preparation of this free zone will create 50,000 job opportunities for both the indigenous people and foreigners. This zone will be prepared in a way that it can host a million people at a single time. This zone will also focus on environmental and sustainability issues.
Why Start a Business in DSFZ?
The Dubai South Free Zone was earlier known as Dubai World Central (DWC) and is an essential project undertaken by the government. The reasons to incorporate a business in DSFZ are mentioned below:
This free zone is conveniently located and has connections to the market and resources from all over the world. It's close to the world's largest airport, Al Maktoum International Airport and is also connected to the sea route via the Jebel Ali port. It is also connected to the whole country by Dubai by Pass road and the Sheikh Zayed Road.
The free zone is also located in the heart of Dubai, making it a place of confluence of the east and the west. The port of Jebel Ali is also connected to a crucial logistic trade route.
2.Cater to Various Businesses
Dubai South Free Zone allows for very different businesses to come to a single place and conduct their operations. The various activities which are permitted in the free zone are E-trading, Information Technology, Consultancy, Designing, General Trading, Advertising and many others. The availability of different businesses in the free zone will help in the creation of a collective and co-operative working environment.
3.Easy Setup of Corporate Bank Account
A business in the free zone will require a corporate bank account. This bank account should be separate from the account of the owner. The free zone will assist in the setting up of a corporate business account for the company.
The Dubai South Free Zone is an integrated free zone, and therefore, this free zone provides commercial and residential facilities. The residential facilities include schools, housing schemes, malls and healthcare centres, and the commercial facilities include hotels, restaurants and various other industrial facilities.
5.Various other Benefits
There are several benefits that the free zone will offer to companies which are set up in the zone. These benefits are mentioned below:
- No personal and corporate tax
- No import and Export Duties
- 100% foreign ownership and complete profit repatriation
- Easy setup Procedure
- No restriction on the type of currency
- Availability of Flexi desk offices to companies with a limited budget
- State of the art infrastructure
- Availability of flexible commercial lease
The above mentioned five reasons are some of the most important reasons due to which a company should choose DSFZ as the place to set up their company in the Middle East. The hosting of the Dubai Expo 2020 will be a massive event for the country, which will attract more traffic. This is a reason enough for the entrepreneurs to reserve the spot in the free zone already until the Expo is finished. If you require help during the process of business incorporation, you should avail the service of “Commitbiz”.
At “Commitbiz", we will provide all the necessary information which you will require during the company setup process. We also offer various other services which will allow you to focus on your business properly. For details on the various services, do contact us- we would be happy to help.